Retail Theory and Practice

RETAIL THEORY
AND PRACTICE

Table of Contents
INTRODUCTION...........................................................................................................................3
Introduction to the company.......................................................................................................3
Relevant changes within the UK fashion retail...........................................................................4
Changes within the Micro Environment.....................................................................................5
Strategies that can be used by retailers in order to response changes.........................................6
Tactics that are used by retailer's for responding towards retail industry trends in fashion
clothing sector.............................................................................................................................7
Recommendation.........................................................................................................................8
CONCLUSION................................................................................................................................9

INTRODUCTION
Retail industry can be defined as a major activity that make sales of goods and services
that are consumed by customer's on daily basis. Retail business is based on distribution channel
that are built with main motive of increasing sales and profits. On the other side, retailing refers
to the long input and output chain that undertakes production and distribution of products and
services to end consumer. This report is written from the perspective of the PRIMARK, it is an
Irish retail organisation that is operating their business at global level. Germany, Ireland, Spain,
Portugal and UK. It was established in the year 1969 and started to operate their business in
clothing, cosmetic, households products (Berry, Broadbent and Otley, eds., 2016). Moreover,
this report highlights on changes in UK's retails industry. Along with this tactics and strategies
that are implemented by retailer’s will also be included in this report.
Introduction to the company
PRIMARK is the British-owned Irish organisation that is operating their business at
global level as a food processing and retail industry. Its headquarter is situated in Dulbin, Ireland
and currently the organisation is operating their business at 372 locations. The key areas which
are served by Primark includes Austria, UK, Italy and many more. In the present scenario, there
70,000 employee's are engaged in the organisational operations that leads the management of
PRIMARK to accomplish their goals and objectives in minimum time period. Further, the first
retail store of the organisation was founded by Arthur Ryan and it is still operating their
operations at Mary street, Dulbin. Along, with this PRIMARK offers a wide range of products
that undertakes baby and children's clothing, menswear and womenswear, accessories, footwear
and cosmetic products. According to the present conditions of retail industry, PRIMARK is the
third largest retailer at global level. In the context of PRIMARK stores there are more than 350
retail outlets are managed that demonstrate physical evidence of organisation at global level. On
the other side, PRIMARK is operated by fashion fans and value seekers that is widely
established its business at global level (Bloom and et. al., 2012). In the present scenario, it is an
international organisation that is offering latest fashion, beauty and home-ware products at the
best value to the customer's by implementing their code of conduct in all functions of
organisation.

Relevant changes within the UK fashion retail
In the present scenario, retail industry is enhancing their business size at global level.
This determines that the business growth of operations and functions is increasing with rapid
speed. So it is mandatory for retail organisation to perform their operations according to the
external environment conditions in order to enhance the sale for their products. PESTLE analysis
is an effective tool which is included in this report in context of PRIMARK as follow:
Political Factor- Political aspect is consider with two elements. This is how much
government intervene in the economy of organisation. This undertakes tax policy, labour laws
etc. Another factor relates with political decisions that impact on business like tax rates,
modification in policy and many more. In context of UK government and political conditions
they are stable in nature (Dholakia, Dholakia and Chattopadhyay, 2012). So it is easy for
organisation to perform their work with more efficiency by adopting right actions and methods.
Economic Factor- The economic factor of a nation impacts on all organisation whether
they are international or local. It undertakes various factors like inflation rate, economic growth
and exchange rate. In the present scenario, due to Brexit decisions the economic of the country is
directly impacted negatively on retail industry. Lower employment, decrease in sale of products
and decrease in prices of products are some of the major impacts that impact on productivity and